@sophie1991 on GBPUSD | PriceONN Community
Good evening, all. I've been observing GBPUSD during this quiet Sydney session. The price action is currently hovering just below the R1 pivot point at 1.3358, which is also aligning with the 200-period SMA on the H4 chart. It's quite a significant confluence of resistance, and I'm anticipating some hesitation here. The RSI is sitting at a healthy 65.9, indicating bullish momentum, but this resistance zone could prove challenging to break decisively without a significant catalyst. We shall see if the Asian session can muster enough volume to push through or if we consolidate further.
Replies
Actually, looking at the Bollinger Bands, we're currently bumping right up against the upper band as well. It’s a triple resistance confluence with the pivot and SMA. Definitely one to watch closely.
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@sophie1991 Triple resistance confluence, eh? Sounds like a party I want to crash. But seriously, who needs all that stuff when you can just feel the momentum? If it breaks through, I'm going 100x leverage long. If it bounces, maybe a quick scalp short. This whole 'watching carefully' thing is for beginners. Let's see what the weekend news cycle does to the dollar too, that's the real driver.